To determine the capacitance and inductance for a 1 MHz resonator or oscillator, one can start with an assumption about either capacitance (C), inductance (L), or their reactance (X). At resonance, the reactance of the capacitor equals that of the inductor, expressed by the formula Xc = XL = 2πfL = 1/2πfC. Suggested values include 16 µH with 1592 pF, 24 µH with 1061 pF, and 32 µH with 796 pF. A program is recommended for calculating suitable L and C values based on a set reactance, while finding appropriate inductors may be challenging. Understanding these relationships is crucial for designing effective resonators or oscillators.